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Vietnamese firms seek improved ties with Chinese peers

A conference on economic cooperation between Vietnamese firms and their peers from China’s Shandong province took place in Hanoi on May 27.
Vietnamese firms seek improved ties with Chinese peers ảnh 1The conference on economic cooperation between Vietnamese and Chinese businesses in Hanoi on May 27 (Photo: VNA)

Hanoi (VNA) – A conference on economic cooperationbetween Vietnamese firms and their peers from China’s Shandong province tookplace in Hanoi on May 27.

According to Hoang Quang Phong, Vice Chairman of the VietnamChamber of Commerce and Industry (VCCI), the event was an occasion forVietnamese enterprises to learn about opportunities for joint projects inagriculture, food, construction material, steel, electricity equipment,seafood, and furniture, among others.

Speaking at the conference, Wang Liang, vice chairman of theShandong people’s council, said Vietnam has become the biggest and mostimportant partner of his province, with bilateral trade hitting 38 billion CNY(5.5 billion USD).

Shandong mainly imports crude oil and electronic goods fromVietnam; while exporting electronic equipment, apparel, and machinery, amongothers, to the country. Firms from the Chinese locality have so far increasedtheir investment in garment and textile outsourcing and rubber production inVietnam.

Wang said potential for bilateral win-win collaborationremains extensive, stressing the Shandong authorities’ support for both Vietnameseand local public agencies and firms to boost cooperation in trade, investment,finance, education, and health.

Phong said the VCCI will create favourable conditions forboth sides to meet up and form partnership.

Trade Counsellor of the Chinese Embassy in Vietnam Hu Suojinsaid the embassy will work with the VCCI and relevant agencies to facilitatecooperation between the two business communities.

The Foreign Investment Agency under the Ministry of Planningand Investment stressed it will assist investors in terms of informationsupply, arranging meetings, and addressing investment difficulties.

After the conference, Vietnamese companies and theirShandong peers joined a business matching event.

According to the General Department of Vietnam Customs,Vietnam-China bilateral trade was close to 104.6 billion USD last year, up11.75 percent from 2017. –VNA
VNA
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